I did some searching on the web and it was suggested (i cant remember where so no credit, sorry) to increase the timeout to 90. With this done it was working fine, though taking ages still to conenct. Well today i decided to get to the route of the problem.
First thing i did was go into CFADMIN, and check the connections. Oh...my..god this took ages aswell. Then i noticed one of the DSN wasnt validating, i've corrected this and viola, all is well. So the moral to my story, check your DSN's are up-to-date.